Fashion market in Cuba

The Cuban Fashion eCommerce market is predicted to reach US$105.7 million by 2023 and accounts for 20.7% of the total eCommerce market in Cuba. It is expected to increase over the next years. The expected compound annual growth rate for the next four years (CAGR 2023-2027) will be 4.2%, resulting in a projected market volume of US$124.6 million by 2027. Within the Fashion market ECDB considers the following three sub-markets: Apparel, Footwear, and Bags & Accessories.

Market development

eCommerce revenue development in the Luggage & Bags market in Cuba

The Cuban Luggage & Bags eCommerce market is predicted to reach US$7.6 million by 2023 and accounts for 34.2% of the Bags & Accessories eCommerce market in Cuba. It is expected to increase over the next years. The expected compound annual growth rate for the next four years (CAGR 2023-2027) will be 9.2%, resulting in a projected market volume of US$10.7 million by 2027. The Luggage & Bags eCommerce market is a sub-market of the Bags & Accessories market. Further categories within the Bags & Accessories market are: Fashion Accessories, and Jewelry & Watches.

eCommerce revenue development in the Luggage & Bags market in Cuba

in million US$

Note: Market revenue represents B2C sales of physical goods including VAT. It excludes B2B sales, C2C sales, returns, compensation for damaged or missing goods, any discounts granted and services. Data shown is using current exchange rates.

Source: ECDB analysis

eCommerce revenue growth in the Luggage & Bags market in Cuba

in %

Note: Market revenue represents B2C sales of physical goods including VAT. It excludes B2B sales, C2C sales, returns, compensation for damaged or missing goods, any discounts granted and services. Data shown is using current exchange rates.

Source: ECDB analysis

Net eCommerce revenue split by sub-category

in %

Note: Data shown is using current exchange rates.

Source: ECDB analysis

2020 2021 2022 2023 2024 2025 2026 2027
Revenue (in mUS$) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Growth (in %) 93.8 12.6 30.3 28.7 18.3 60.6 75.8 55.2
AOV (in US$) 0.3 0.6 0.7 0.4 1.0 0.3 0.9 1.0
CVR (in %) 31.7 27.7 5.6 72.6 2.9 96.8 80.5 46.5
AOV: Average Order Value CVR: Conversion Rate

Online share

eCommerce online share of the total Luggage & Bags market in Cuba

The online share refers to the proportion of the retail volume that is transacted via the Internet. It includes purchases via desktop PC, tablet or smartphone, both via website or app. Only retail of physical goods is taken into account. In the Cuban Luggage & Bags retail market, the online share is 15.4% and will increase by an average of 7.6% to 20.6% by 2027.

eCommerce online share of the total Luggage & Bags market in Cuba

in %

Note: Data shown is using current exchange rates.

Source: Statista Market Insights , ECDB analysis

2020 2021 2022 2023 2024 2025 2026 2027
Online share (in %) 69.7% 1.2% 7.5% 59.9% 92.2% 62.9% 19.8% 24.3%

Market definition

Definition of the Luggage & Bags market within the Fashion market

Market definition: Fashion > Bags & Accessories > Luggage & Bags The category Luggage & Bags includes the online trade of suitcases, backpacks and daypacks, hip and fanny packs, and more. This category does not cover wallets and purses and protective cases and covers for electronic devices (e.g. smartphone cases and covers). All monetary figures refer to the annual gross revenue and do not factor in shipping costs.

In-scope

  • Suitcases
  • Backpacks and daypacks
  • Hip and fanny packs
  • Handbags

Out-of-scope

  • Wallets and purses
  • Protective cases and covers for electronic devices (e.g. smartphone cases and covers)